Trade Direction: Based on market structure, the short side (downside) offers a better risk-reward setup, as DOGE is trading near resistance after failing to break higher .
DOGE
0.0932
+2.02%
2. Entry and Stop Loss: Consider entering a short position on a rejection near the 0.0925–0.0930 resistance zone, placing a stop loss above the recent high at 0.0955 .
3. Take Profit Targets: The first take profit target sits at the support level of 0.0905–0.0900, with a secondary target at 0.0890 if selling pressure increases .
4. Technical Setup Rationale: The price is compressing between a horizontal support and descending resistance, with the broader trend showing consistent lower highs and no confirmed bullish breakout yet .
5. Risk Reminder: This is a fading strength trade against immediate bullish momentum, so keep position size tight and wait for confirmed rejection before entering .$BTC
BTC
74,368.32
+4.70%
ETH
2,365.28
+7.70%
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Zulfvi